Portugal telco NOS’ quarterly profit jumps despite frail box office

Portuguese telecommunications firm NOS reported on Thursday a 77% rise in second-quarter net profit, boosted by revenue growth in its core segment while sales at its media and entertainment business ebbed sharply.

The company, which has invested heavily to bring its fast-speed 5G network to almost everyone in Portugal, raked in a net 80.8 million euros ($88.16 million) on revenues of 412 million, almost 5% higher than a year ago. Of that, 401 million euros came from its telecom business.